This Chinese ride-hailing company is aiming at 100 million orders a day

Didi Chuxing, China's biggest ride-hailing firm which counts SoftBank as an investor, aims to complete 100 million orders a day and have 800 million monthly active users globally by 2022, CEO Cheng Wei said.

File photo: A Didi sign is seen on a car during the China Internet Conference in Beijing. (REUTERS)
File photo: A Didi sign is seen on a car during the China Internet Conference in Beijing.

The company will continue to expand its mobility services including ride-hailing, hitch, and bike sharing, while developing auto-related businesses such as autonomous driving and fleet management operations with automakers, it said in a statement.

The orders referred to include those from ride-sharing services as well as other services such as food deliveries.

Also Read : China's BAIC, Didi plan car leasing service amid new car sales slowdown

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Didi did not say what its current average daily global orders were, but last year it said it expected domestic ride-sharing trips, which account for the bulk of its business, could reach 37 million on September 30, before China's national day holiday.

Didi aims to achieve an 8% penetration rate in China's mobility market, Cheng said, explaining the company's three-year strategy as quoted in a company statement on Friday. Globally the company is expanding its business in Japan, Australia and Latin America.

Also Read : China's Didi Chuxing restarts evening Hitch service)

The bike sharing business, DiDi Bike, raised over $1 billion in its latest fundraising, a source familiar with the matter told Reuters on Friday.

The coronavirus pandemic, which has killed more than 143,000 people globally, has battered ride-hailing demand as strict containment measures imposed by the government disrupt business and bring most social activity to a standstill.

Uber Technologies Inc on Thursday withdrew its 2020 forecast for gross bookings and said it expects an impairment charge of up to $2.2 billion in the first quarter due to the virus outbreak.

First Published Date: 18 Apr 2020, 09:41 AM IST
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